TransUnion is launching a new app set to help realtors confirm property ownership to prevent fraud, conduct personal safety checks and drive more effective prospecting.
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TruLookup for Real Estate is a purpose-built solution that reduces the need for real estate professionals to analyze multiple databases or download numerous apps when researching potential clients and properties, instead offering the resources required in a single, mobile-first app, the company announced in a press release Tuesday.
Fighting fraud has become an increasingly difficult challenge for the real estate industry, which now has to compete against the
“TruLookup for Real Estate exemplifies the innovative solutions TransUnion delivers by bringing together our robust and extensive data assets and connected identity in new ways to create tools that solve real customer challenges,” said Mohamed Abdelsadek, chief global solutions officer at TransUnion, in the release.
Real estate professionals can also use the app to:
- confirm legal property ownership before listing;
- conduct a personal safety check by using a phone number to review identity attributes and assess potential risk indicators before in-person meetings;
- find phone, email and postal address information for owners of unlisted properties;
- and generate phone, email and mail lists based on a location and radius for prospecting campaigns.
“Realtors work on the go in a fast-moving, highly competitive industry,” said Melanie Zimmerman, president of TransUnion Risk and Alternative Data Solutions, Inc. in the release. “TransUnion’s TruLookup for Real Estate gives them a mobile-first solution that helps them stay safe and seize opportunities in the moment.”
Nearly 50% of realtors require four or more tools to assess safety risks and confirm contact information, according to a survey conducted by Forrester Consulting on behalf of TransUnion. But nearly half of the realtors surveyed said they couldn’t use those same tools to provide contact information on potential clients.
The survey also found the most important information realtors seek when meeting new clients were their property ownership status and addresses (57%), criminal offense history (43%) and whether their identity is suspected of fraud (40%), which can all be found on the app, TransUnion said.
The solution will be available in early April. Real estate professionals can access the app through participating associations and brokerages, according to the release.
TransUnion also made news early this month with its latest move in an ongoing